Gold Prices Fluctuate Amid Mideast, Japan Turmoil; Silver Gains
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Gold fluctuated after rising to a record yesterday as turmoil in Libya and Japan spurred demand for the metal as an investment haven. Silver headed for the longest rally in more than three months.
Concern that Portugal may need a bailout also helped gold reach an all-time high of $1,448.60 an ounce. The coalition against Libya’s Muammar Qaddafi is taking aim at his armored units, military facilities and supply lines after crippling his air force. Japan’s nuclear regulator said one reactor core at the damaged Fukushima Dai-Ichi plant may be cracked and leaking radiation.